“It looks like the high end market is buying!” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “Although October 2019 was a mixed bag for real estate, the good news is that we had 232 pending sales in October 2019 compared to 227 in October 2018. The pending sales volume was $123 million in October 2019 compared to $107 million in October 2018.”
“This 15 percent jump in pending sales volume was primarily due to 27 pending sales contracts above $1,000,000.00 being turned in to our Accounting department compared to 18 during the previous October. The inventory of listings is starting it’s annual climb right now. This is the time of the year when sellers get ready for season. We currently have 1,030 listings on the market.”
NAPLES AREA: The Naples area housing market enjoyed another 7 percent increase in overall closed home sales for the third month in a row. Showings in September 2019 were up 31 percent over September 2018. This translated into a 13.7 percent increase in pending sales (written contracts) or 823 pending sales in September 2019 compared to 724 pending sales in September 2018.
BONITA / ESTERO: There was an uptick in new listings in the residential real estate market in Bonita Springs and Estero in September 2019, but not enough to serve the increase in buyers to the market. Increased pending sales for September 2019 were likely the result of nearly 300 price adjustments for single family homes and condominiums. Area brokers also reported increased activity at open houses.